Rigetti Computing, Inc. (NASDAQ:RGTI - Get Free Report) rose 3.7% during trading on Thursday . The company traded as high as $1.47 and last traded at $1.45. Approximately 1,543,376 shares traded hands during trading, a decline of 77% from the average daily volume of 6,741,232 shares. The stock had previously closed at $1.40.
Wall Street Analysts Forecast Growth
RGTI has been the subject of a number of research reports. Needham & Company LLC restated a "buy" rating and set a $3.00 price objective on shares of Rigetti Computing in a research report on Friday, March 15th. Alliance Global Partners initiated coverage on Rigetti Computing in a research report on Friday, March 1st. They set a "buy" rating and a $3.50 price objective for the company.
View Our Latest Stock Report on RGTI
Rigetti Computing Trading Down 0.7 %
The firm has a market capitalization of $220.84 million, a price-to-earnings ratio of -2.40 and a beta of 2.43. The company has a current ratio of 3.71, a quick ratio of 3.71 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $1.58 and a 200-day moving average price of $1.31.
Insider Activity
In other news, Director Alissa Fitzgerald sold 20,000 shares of Rigetti Computing stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $1.28, for a total transaction of $25,600.00. Following the completion of the sale, the director now directly owns 140,810 shares in the company, valued at approximately $180,236.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Alissa Fitzgerald sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1.28, for a total value of $25,600.00. Following the completion of the sale, the director now directly owns 140,810 shares in the company, valued at approximately $180,236.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Richard Danis sold 46,326 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $1.97, for a total value of $91,262.22. Following the completion of the sale, the general counsel now owns 1,052,141 shares of the company's stock, valued at $2,072,717.77. The disclosure for this sale can be found here. Insiders sold a total of 115,599 shares of company stock worth $194,030 in the last three months. 2.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Procyon Advisors LLC bought a new position in Rigetti Computing in the 4th quarter worth approximately $65,000. American Assets Investment Management LLC increased its position in Rigetti Computing by 1,657.8% in the 3rd quarter. American Assets Investment Management LLC now owns 8,789,169 shares of the company's stock worth $11,690,000 after buying an additional 8,289,169 shares during the period. Penserra Capital Management LLC increased its position in Rigetti Computing by 9.0% in the 3rd quarter. Penserra Capital Management LLC now owns 2,118,751 shares of the company's stock worth $2,817,000 after buying an additional 174,408 shares during the period. Gitterman Wealth Management LLC bought a new position in Rigetti Computing in the 3rd quarter worth approximately $27,000. Finally, Orion Portfolio Solutions LLC bought a new position in Rigetti Computing in the 3rd quarter worth approximately $25,000. 35.38% of the stock is owned by institutional investors.
About Rigetti Computing
(
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Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.
Further Reading
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